Egypt to float Arab Investment Bank on Cairo bourse
State-run National Investment Bank of Egypt plans to float some of its shares in the Arab Investment Bank on local bourse soon, its board member Momtaz al-Saeed announced Tuesday. The banking official further told Amwal Al Ghad that the floating move aims to reinforce the Arab Investment Bank’s financial position. Arab Investment Bank’s current shareholding comprises the National Investment Bank, with a 91.5% stake, in addition to Egyptian, Syrian, and Libyan governments, with an 8.5% stake. (Amwal Al Ghad)
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